UPDATE 4-Trump urges U.S. court to shield Deutsche Bank records from House Democrats

(Updates headline)
By Brendan Pierson
NEW YORK, Aug 23 (Reuters) - Lawyers for U.S. President
Donald Trump asked a federal appeals court on Friday to block
Deutsche Bank AG and Capital One Financial Corp
from handing the financial records of the president's
family and the Trump Organization to Democratic lawmakers.
The case, before the 2nd U.S. Circuit Court of Appeals in
Manhattan, is one of several legal battles between the
Democrats, who took control of the U.S. House of Representatives
in January, and the Republican president, who is seeking
re-election in November 2020.
In subpoenas issued in April, Democratic lawmakers asked the
banks for records related to Trump, his adult children and the
Trump Organization. U.S. District Judge Edgardo Ramos in
Manhattan ruled in June that the subpoenas could be enforced.
Patrick Strawbridge, a lawyer for the Trumps, told the
appellate panel that the committees did not have a "legitimate
legislative purpose" for the subpoenas, which he described as
too broad.
"The subpoenas look for every debit card, every Diet Coke
that a teenager purchased using a credit card from Capital One"
if they are related to Trump, he said.
Deutsche Bank has long been a principal lender for Trump's
real estate business, and a 2017 disclosure form showed that
Trump had at least $130 million of liabilities to the bank.
The Deutsche Bank subpoena issued by the House Financial
Services Committee and the Intelligence Committee seeks records
of accounts, transactions and investments linked to the Trumps,
immediate family members and several Trump Organization
entities, plus records of possible ties to foreign entities.
The Capital One subpoena issued by the Financial Services
Committee seeks records related to the Trump Organization's
hotel business.
Douglas Letter, a lawyer for the committees, told the court
that Congress needed the information to craft new legislation
aimed at curbing money laundering and foreign meddling in U.S.
affairs.
"We're investigating massive amounts of Russian money," he
said.
Both sides said during Friday's hearing that they might be
willing to negotiate about the scope of the subpoena, and that
they had made such offers before. Letter said he believed
Trump's offer to negotiate was "insincere," which Strawbridge
denied.
At the end of the argument, whether they Circuit Judge Jon
Newman asked lawyers for Deutsche Bank and Capital One have
Trump's tax returns or those of his children.
Raphael Prober, Deutsche Bank's lawyer, said he could not
answer the question in open court because of the bank's
"contractual obligations."
Capital One's lawyer, James Murphy, also declined to answer,
saying simply, "I prefer not to."
Both lawyers said they would submit letters to the court
responding to the question within 48 hours.
(Reporting By Brendan Pierson in New YorkEditing by Noeleen
Walder, Sonya Hepinstall, Jonathan Oatis and Cynthia Osterman)